Gas Prices Poised For A Volatile 2014

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Fasten your seatbelts. It looks as if 2014 is going to be a bumpy ride for gas prices. According to Gasbuddy.com, fuel costs will likely drift lower, but not before experiencing some price spikes, to average below $3.40 a gallon for the first time since 2010.

Barring unforeseen events, such as storms or unrest in oil producing regions, the price of gas will drop to its lowest points since the Great Recession began. The reason for the downward drift, say the experts, is due to increased U.S. production that has insulated most of the country from spikes. The increased product, including the shale oil boom, has boosted domestic production to its highest level since 1989.

However, the danger of price spikes could arise from refinery maintenance that typically takes place from February through April, ahead of the driving season.